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SEC Closes Probe on Ondo Finance; ONDO Trading Volume Surges
Ondo Finance experienced a surge in investor interest following the closure of a multi-year SEC investigation. Key highlights include:
- The ONDO token's spot trading volume increased by 150% within 24 hours.
- ONDO is currently trading at approximately $0.4765, showing a 2% daily gain.
- Total value locked (TVL) reached an all-time high of $1.866 billion, according to DeFiLlama.
The SEC's investigation, initiated in 2024, focused on the compliance of Ondo Finance's tokenization of real-world assets with federal rules. The probe also questioned whether the ONDO token should be classified as a security.
Technical analysis suggests:
- ONDO is trading within a falling wedge pattern on the daily chart, indicating a potential trend reversal.
- A breakout above $0.50 could lead to a rally towards $0.62.
- MACD indicators suggest a possible bullish move if the cross holds, targeting the $0.52 zone.
- Bollinger Bands indicate tighter spacing, hinting at a potential breakout.
- The 1-hour chart shows a triple bottom pattern, suggesting a potential price target of $0.6351.
